Delivering Paris Agreement to boost jobs and GDP
Meeting the objectives of the Paris Agreement would raise GDP and employment in Europe by 1.1% and 0.5% respectively in 2030, compared to a business-as-usual scenario.
Latvia would enjoy most growth, according to the findings from EU agency Eurofound, with lower fossil fuel imports and higher investment boosting GDP by close to 6%.
Belgium is likely to experience the biggest employment bump, jumping by close to 1% amid increased demand for construction and manufacturing workers.
While mining and utilities jobs are forecast to fall by 16.6% and 2.4% respectively, the researchers said there would be “no significant labour market frictions”.
The labour force is instead projected to adapt to the structural changes.
Globally, China is expected to benefit from the transition to a low-carbon economy, but the US would experience a 3.4% drop in GDP and a 1.6% decline in employment.